EDEN PRAIRIE, MN, Feb 11, 2010 (MARKETWIRE via COMTEX) -- Compellent Technologies, Inc. (NYSE: CML) today announced record fourth quarter and full year 2009 revenue, reflecting the growing acceptance by new midsize and enterprise customers of Compellent's efficient storage for their datacenters. Compellent's Fluid Data(TM) architecture automates the movement and management of data throughout its lifecycle to adapt to changing business conditions, resulting in significant cost savings for end users.

Highlights for Q4 2009 include:

Revenue increased 35 percent from the fourth quarter of 2008 and 13
percent from the third quarter of 2009 to $36.3 million.

Total installed end-user base grew to 1,812 customers, an increase
of 185 new users from the previous quarter.

GAAP net income totaled $1.3 million, or $0.04 per share. Non-GAAP
net income was $2.4 million, or $0.07 per share, adjusting for
non-cash stock compensation expense.

Cash and investments totaled $123.8 million at year-end compared
with $109.0 million at September 30, 2009. The company generated
$4.4 million in cash from operations and $10.7 million in net
proceeds from the follow-on stock offering completed during the
quarter.

Deferred revenue at December 31, 2009 was $38.2 million, an
increase of $6.5 million from September 30, 2009 and $17.6 million
from December 31, 2008.

"This strong fourth quarter performance capped another successful year at Compellent," said Phil Soran, president and CEO of Compellent. "We generated record results in revenue, end-user customers, earnings and cash. This demonstrates the positive impact that our Fluid Data architecture has on customer environments, the strength of our efficient business model, and our ability to drive revenue and profit with our channel partners. During the quarter, we continued to see our target midsized enterprise market as well as larger enterprises choosing Compellent over incumbent storage vendors."

Full year 2009 financial highlights include:

2009 revenue grew by 38 percent to $125.3 million from $90.9 million
in 2008.

GAAP operating income was $3.7 million, or 3 percent of revenue,
compared to GAAP operating loss of $3.2 million in 2008. Non-GAAP
operating income was $7.9 million, or 6 percent of revenue, compared
to non-GAAP operating loss of $1.0 million in 2008.

GAAP net income was $4.8 million, or $0.15 per share, in 2009 versus
a GAAP net loss of $416,000, or $(0.01) per share, in 2008.

Mr. Soran concluded, "As we look ahead, we remain positive about the growing demand for our innovative storage technology and we continue to build our presence in new markets, taking mind and market share from the competition. Our solution has broad appeal and is attracting strong interest from larger organizations and those considering emerging applications for cloud computing. As always, we remain focused on generating profits and cash, while making the investments required to maximize future growth and profit."

Compellent's Fluid Data storage helps eliminate the scalability challenges and dead-end growth paths common with other storage platforms that cannot be as easily expanded or upgraded. By infusing its enterprise storage system with built-in automation and intelligence, Compellent enables data to flow throughout an organization in a way that is directly aligned with the needs of the business. As a result, business applications are implemented faster, new technologies are quickly deployed, and data is automatically secured against downtime and disaster.

Conference Call

The company has scheduled a conference call to discuss its fourth quarter results and current business developments today, February 11, at 4:30 p.m. ET. To access the call, dial 888-549-7750 domestically or 480-629-9866 internationally. The call will also be webcast live at http://www.compellent.com/investors. An audio replay will be available for seven days following the call at 800-406-7325 for U.S. callers or 303-590-3030 for those calling outside the U.S. The password required to access the replay is 4203308#. An archived webcast will also be available at http://www.compellent.com/investors until the company's conference call to discuss its first quarter 2010 financial results.

Non-GAAP Measures

To supplement the company's Statements of Operations presented in accordance with GAAP, the company uses non-GAAP measures for operating income (loss) and net income. In order for investors to be better able to compare the company's current results with those of previous periods, the company has shown a reconciliation of the GAAP to non-GAAP financial measures. This reconciliation adjusts the related GAAP financial measures to exclude stock-based compensation expense. The company believes the presentation of these non-GAAP financial measures enhance the user's overall understanding of the company's historical financial performance. The presentation of non-GAAP operating income (loss) and net income is not meant to be considered in isolation or as a substitute for the company's financial results prepared in accordance with GAAP, and the company's non-GAAP financial measures may be different from non-GAAP financial measures used by other companies.

About Compellent

Compellent is a leading provider of enterprise-class network storage solutions that are highly scalable, feature-rich and designed to be easy to use and cost effective. Compellent Technologies' principal offices are located in Eden Prairie, MN. For more information, please visit: http://www.compellent.com.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Specifically, statements concerning the anticipated demand for the company's storage solution, the growing base of end users, the company's ability to lower storage costs for end users, the company's momentum and growth, the company's marketing positioning, and the advantages of the company's business model are forward-looking statements within the meaning of the safe harbor. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance, time frames or achievements to be materially different from those expressed or implied by the forward-looking statements. Forward-looking statements are subject to risks and uncertainties, including unfavorable economic and market conditions, lessening demand in the information technology market, slower than expected growth of the small-to-medium sized enterprise storage market or adoption of the company's storage solution; the impact of technological developments and competition; the company's reliance on third-parties to sell their storage solution; pricing and availability of suppliers' products; general industry trends; the company's capital and operating requirements to grow its business and changes in industry standards and interfaces, which may cause actual results to differ materially from the statements contained herein. Further information on potential risk factors that could affect Compellent's business and its financial results are detailed in its filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2008 and Form 10-Q for the quarter ended September 30, 2009. Undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made, and, except as required by law. Compellent disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.